“As losses from catastrophic events are increasing, insurers are...
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Cyber Protection: Public-private action to bridge gap and boost resilience
Mario Greco, Group Chief Executive Officer, Zurich Insurance Group,...
Centre to create Aadhaar-like digital IDs for 11 crore farmers by FY27
“These IDs, created and maintained by the state governments/union...
ICICI Gen’s Q1 net drops 61 % to Rs 152 crore on higher Covid-19 claims
The largest private sector general insurer has also seen its combined ratio deteriorating to 121.3 per cent in Q1 FY2022 compared to 99.7 per cent in Q1 FY2021
Shell to appeal landmark climate case in the Netherlands
The ruling came after Milieudefensie, the Dutch arm of Friends of the Earth, sued the company for violating human rights. The court agreed, saying Shell must reduce its total emissions by 45% by 2030 from 2019 levels. That compares with Shell’s own target of reducing the intensity of its greenhouse gas emissions by 20% from 2016 levels.
Health drives non-life insurers back to black in Q1, premia growth up 13.8 pc: Report
Crop insurance has nearly halved from Rs 1,479.32 crore in Q1 of FY21 to Rs 713.06 crore in Q1 FY22 as anecdotal data suggest that as the crop insurance scheme has been made optional, farmer enrolment has come down, it said.
Saudi Aramco facing USD 50M cyber extortion over leaked data
A page accessed by the AP on the darknet – a part of the internet hosted within an encrypted network and accessible only through specialized anonymity-providing tools – claimed the extortionist held 1 terabyte worth of Aramco data. A terabyte is 1,000 gigabytes.
The page offered Aramco a chance to have the data deleted for USD 50 million in cryptocurrency, while another timer counted down from USD 5 million, likely in an effort to pressure the company. It remains unclear who is behind the ransom plot.
Nine new Insurance Ombudsmen selected
Vipin Anand,managing director, Life Insurance Corporation, who will retiring this month end , has been chosen for Bengaluru, Girish Radhakrishnan, who retired as CMD of United India Insurance, has been selected for Kochi.
The other selected candidates are S.Sampathkumar for Chennai, N Sankaran for Hyderabad,B S Pandya for Mumbai, Atul Jerath for Chandigarh, RM Singh for Bhopal, Rajiv D Sharma for Jaipur, Somnath Ghosh for Guwahati.
U.S. judge narrows focus of antitrust suit over $30 bln Aon-Willis merger
The DOJ had alleged that combining the two large insurance brokers would harm competition in reinsurance broking, retirement and pension planning and private retiree multicarrier healthcare exchanges. But the divestitures mean those no longer will be issues in the trial, according to the order
Insured losses from western German floods may total 4-5 billion euros – trade body
Gemany’s insurance industry association GDV said the floods in the states of North Rhine-Westphalia and Rhineland-Palatinate are likely to exceed the 4.65 billion euros of damage recorded following a deluge in August 2002.
India reports 3,998 COVID deaths after state corrects its data
On Wednesday, the government reported 42,015 new coronavirus infections in the previous 24 hours, health ministry data showed.
US life expectancy in 2020 drops by 1.5 years due to Covid-19 pandemic
“It’s staggering and depressing,” said Noreen Goldman, a professor of demography and public affairs at Princeton University. “The U.S. lags behind virtually all high-income countries in life expectancy, and now it’s lagging further behind.”
China’s ‘iPhone city’ relocates 100,000 people after record rain, flood
The city of Zhengzhou in the central province of Henan saw 457.5 millimeters (18 inches) of rain fall in the 24 hours through 5 p.m. on Tuesday, the highest since records began for the city of more than 10 million people, the official Xinhua news agency reported. That included a record 201.9 millimeters in a single hour, from 4 p.m. to 5 p.m. The city’s airport said on its Weibo page it has temporarily suspended inbound flights.